Warehouse with Fenced
For Sale
$450,000
315 E Breckinridge St, Louisville, KY 40203
C2-zoned industrial space offers dock and drive-in loading plus conditioned areas.
Property Size5,348 SF
Lot Size0.23 Acres
Price / SF$84.14
Days on Market189
Property Features for 315 E Breckinridge St
General Information
Standard status
Active
Size
5,348 SF
Lot size
0.23 Acres
Property subtype
Industrial
Zoning
C2
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
5,348 SF
Dock-High Doors
1
Drive-In Doors
1
Voltage
240 V
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Building Details
Building Size
5,348 SF
Listing Agency:
Walter Wagner, Jr Co., LLC
(502) 724-2550
Listed By:
Kevin Sullivan · License #77474
(502) 724-2550
Source:
Kcrea.resimplifi
Added: Feb 24
Changed: Aug 29
Last Checked: Aug 31 at 1:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Walter Wagner, Jr Co., LLC
Investment Insights
Based on property information with market context.
This 5,348-square-foot warehouse occupies a 0.23-acre lot and is configured for practical industrial operations. The building includes gas heat throughout, three-phase 240V power, and conditioned areas, with enclosed improvements complemented by secured outdoor storage behind fencing. Loading is supported by both dock-level and drive-in access.
Located at 315 E Breckinridge St in Louisville, the property provides access to Downtown Louisville and major interstates. Its combination of interior warehouse space, outdoor storage, multiple loading options, and C2 zoning supports contractor, storage, and light industrial applications.
Located at 315 E Breckinridge St in Louisville, the property provides access to Downtown Louisville and major interstates. Its combination of interior warehouse space, outdoor storage, multiple loading options, and C2 zoning supports contractor, storage, and light industrial applications.
Key Highlights
- 5,348 SF warehouse on a 0.23‑acre lot
- One 10x10 dock door and one 8x8 drive‑in door
- Fenced, secure outdoor storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,008
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$640,160
$640.2K
Cap Rate 7%
$457,257
$457.3K
Cap Rate 9%
$355,644
$355.6K
Market Conditions
NOI Build-Up for 5,348 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.1K $9.00/SF
− Vacancy
−$2.4K −$0.45/SF
EGI
$45.7K $8.55/SF
− OpEx
−$13.7K −$2.56/SF
NOI
$32.0K $5.98/SF
Area
Louisville, KY
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$640,160
Cap Rate 7%
$457,257
Cap Rate 9%
$355,644
Alternative Uses
Best Use
Flex RnD
$692.8K
$606.2K – $808.2K
NOI $48,493 @ 7.0% cap · market cap 10.78%
Second Best
Warehouse
$617.7K
$540.5K – $720.7K
NOI $43,239 @ 7.0% cap · market cap 9.61%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,034 @ 7.0% cap · market cap 21.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
6,941
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
Market
Vacancy Rate% for Industrial in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - C2-zoned industrial space offers dock and drive-in loading plus conditioned areas.
Where is this warehouse located?
The property is located at 315 E Breckinridge St Louisville, KY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 5,348 SF warehouse on a 0.23‑acre lot; One 10x10 dock door and one 8x8 drive‑in door; Fenced, secure outdoor storage
